Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase – What’s Next?

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw strong trading volume on Wednesday . 20,611 shares were traded during mid-day trading, an increase of 25% from the previous session’s volume of 16,512 shares.The stock last traded at $21.85 and had previously closed at $21.58.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.00.

Brookfield Business Partners Stock Performance

The firm has a market cap of $1.60 billion, a P/E ratio of 2.66 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The firm has a fifty day moving average of $23.63 and a 200-day moving average of $22.24.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The company had revenue of $9.23 billion during the quarter. During the same quarter in the prior year, the firm earned $1.33 EPS. Research analysts predict that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.063 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio is 3.09%.

Institutional Investors Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brookfield Corp ON boosted its position in shares of Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after purchasing an additional 428,511 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Brookfield Business Partners by 12,276.3% during the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock worth $6,076,000 after acquiring an additional 258,662 shares in the last quarter. PCJ Investment Counsel Ltd. grew its stake in Brookfield Business Partners by 14.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after acquiring an additional 188,743 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after acquiring an additional 92,413 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its position in shares of Brookfield Business Partners by 14.7% during the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after purchasing an additional 82,372 shares during the period. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.